Bookkeeping and documentation provisions of the FCPA To ensure proper paper trails are created, documented and retained, the Foreign Corrupt Practices Act (FCPA) requires that proper accounting and internal controls b...Bookkeeping and documentation provisions of the FCPA To ensure proper paper trails are created, documented and retained, the Foreign Corrupt Practices Act (FCPA) requires that proper accounting and internal controls be established for foreign entities. These requirements are basic, and prudent organizations should maintain these provisions. The展开更多
Introduction With the rapid growth in international communication, English is becoming more and more important. The urgent task for English teachers, is to apply knowledge gained from educational psychology research t...Introduction With the rapid growth in international communication, English is becoming more and more important. The urgent task for English teachers, is to apply knowledge gained from educational psychology research to make teaching more efficient. For this purpose, anxiety, an important psychological phenomenon in foreign language learning, is discussed in this article. First anxiety will be defined to build up a clear concept of its origin and its nature. Then its effect on foreign language learning will be analysed. A few suggestions for teachers will be presented at the end.展开更多
Recently, we have seen significant media interest directed at U.S. companies operating in China and how the Foreign Corrupt Practices Act (FCPA) may affect them. American businesses in China must be aware that their o...Recently, we have seen significant media interest directed at U.S. companies operating in China and how the Foreign Corrupt Practices Act (FCPA) may affect them. American businesses in China must be aware that their organization can展开更多
THE statistics are clear: before 1986, the sales volume of foreign brand garments took up only 0.1 percent of the total Chinese market. Nowadays, for every 10 yuan of money earned by the garment industry, one yuan is ...THE statistics are clear: before 1986, the sales volume of foreign brand garments took up only 0.1 percent of the total Chinese market. Nowadays, for every 10 yuan of money earned by the garment industry, one yuan is earned by foreign garment makers. In other words, the sales volume of foreign garments has increased by a hundredfold in a short 10 years. If a decade seems too long, let’s look at the increase margin in a single year: In 1995, China imported US＄970 million worth of展开更多
The exchange rate reform initiated on August 11,2015 is an important attempt by the PBoC to transform China's exchange rate regime from the "crawl-like arrangement" to a floating regime.However,after a t...The exchange rate reform initiated on August 11,2015 is an important attempt by the PBoC to transform China's exchange rate regime from the "crawl-like arrangement" to a floating regime.However,after a three-day experiment,the PBoC abandoned the original goal of the reform.Since then,the central bank has implemented a new exchange rate-setting mechanism.Under this mechanism,the central parity of the renminbi(RMB) against the US dollar is decided by the arithmetic average of the RMB exchange rate that keeps the index of a currency basket unchanged over the past 24 hours and the previous day's closing price of USD/CNY.Due to the introduction of the index of a currency basket,additional uncertainty has been introduced into the determination of the RMB exchange rate,because of the uncertainty of the dollar index(USDX).As a result,to a certain extent,the one-way bet on the RMB expectations is weakened.However,the current exchange rate formation mechanism cannot reverse the trend of devaluation of the RMB,nor can it eliminate depreciation expectations.Meanwhile,it hinders the effectiveness of central bank's independent monetary policy based on the domestic economic fundamentals.And also,the "two-way float" created by the new price-setting mechanism is artificial and has led to significant losses of foreign exchange reserve.The paper explains how the new price-setting mechanism works,and identifies the important features of the mechanism and its pros and cons.The paper argues that despite some advantages,the new exchange rate regime as a soft peg regime is not sustainable and the PBoC should stop foreign exchange market intervention as soon as possible.We hope that the PBoC can learn the lessons from the failure of the "August 11 reform" and accomplish the unaccomplished reform in an urgent manner.展开更多
文摘Bookkeeping and documentation provisions of the FCPA To ensure proper paper trails are created, documented and retained, the Foreign Corrupt Practices Act (FCPA) requires that proper accounting and internal controls be established for foreign entities. These requirements are basic, and prudent organizations should maintain these provisions. The
文摘Introduction With the rapid growth in international communication, English is becoming more and more important. The urgent task for English teachers, is to apply knowledge gained from educational psychology research to make teaching more efficient. For this purpose, anxiety, an important psychological phenomenon in foreign language learning, is discussed in this article. First anxiety will be defined to build up a clear concept of its origin and its nature. Then its effect on foreign language learning will be analysed. A few suggestions for teachers will be presented at the end.
文摘Recently, we have seen significant media interest directed at U.S. companies operating in China and how the Foreign Corrupt Practices Act (FCPA) may affect them. American businesses in China must be aware that their organization can
文摘THE statistics are clear: before 1986, the sales volume of foreign brand garments took up only 0.1 percent of the total Chinese market. Nowadays, for every 10 yuan of money earned by the garment industry, one yuan is earned by foreign garment makers. In other words, the sales volume of foreign garments has increased by a hundredfold in a short 10 years. If a decade seems too long, let’s look at the increase margin in a single year: In 1995, China imported US＄970 million worth of
文摘The exchange rate reform initiated on August 11,2015 is an important attempt by the PBoC to transform China's exchange rate regime from the "crawl-like arrangement" to a floating regime.However,after a three-day experiment,the PBoC abandoned the original goal of the reform.Since then,the central bank has implemented a new exchange rate-setting mechanism.Under this mechanism,the central parity of the renminbi(RMB) against the US dollar is decided by the arithmetic average of the RMB exchange rate that keeps the index of a currency basket unchanged over the past 24 hours and the previous day's closing price of USD/CNY.Due to the introduction of the index of a currency basket,additional uncertainty has been introduced into the determination of the RMB exchange rate,because of the uncertainty of the dollar index(USDX).As a result,to a certain extent,the one-way bet on the RMB expectations is weakened.However,the current exchange rate formation mechanism cannot reverse the trend of devaluation of the RMB,nor can it eliminate depreciation expectations.Meanwhile,it hinders the effectiveness of central bank's independent monetary policy based on the domestic economic fundamentals.And also,the "two-way float" created by the new price-setting mechanism is artificial and has led to significant losses of foreign exchange reserve.The paper explains how the new price-setting mechanism works,and identifies the important features of the mechanism and its pros and cons.The paper argues that despite some advantages,the new exchange rate regime as a soft peg regime is not sustainable and the PBoC should stop foreign exchange market intervention as soon as possible.We hope that the PBoC can learn the lessons from the failure of the "August 11 reform" and accomplish the unaccomplished reform in an urgent manner.
